Cognyte Software (NASDAQ:CGNT) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Cognyte Software (NASDAQ:CGNT) from a buy rating to a strong-buy rating in a report released on Saturday morning,Wall Street Zen reports.

CGNT has been the subject of a number of other research reports. Zacks Research upgraded Cognyte Software from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Weiss Ratings upgraded shares of Cognyte Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $13.00.

Cognyte Software Trading Up 0.9%

Shares of CGNT opened at $8.81 on Friday. Cognyte Software has a twelve month low of $6.29 and a twelve month high of $12.31. The firm has a market capitalization of $651.06 million, a P/E ratio of 293.83 and a beta of 1.59. The stock’s fifty day simple moving average is $8.71 and its 200 day simple moving average is $9.02.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $109.24 million during the quarter, compared to the consensus estimate of $108.51 million. Cognyte Software had a positive return on equity of 1.31% and a negative net margin of 0.01%. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. Sell-side analysts predict that Cognyte Software will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its stake in shares of Cognyte Software by 1,478.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company’s stock valued at $31,000 after buying an additional 3,061 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Cognyte Software during the 1st quarter valued at about $94,000. Entropy Technologies LP acquired a new position in Cognyte Software during the 1st quarter worth approximately $107,000. Westport Asset Management Inc. acquired a new position in Cognyte Software during the 2nd quarter worth approximately $483,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Cognyte Software in the 1st quarter worth approximately $657,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

Cognyte Software Company Profile

Cognyte Software Ltd. (NASDAQ: CGNT) develops software and analytics solutions that help government agencies, law enforcement organizations and other customers investigate threats, detect criminal activity and derive insights from large volumes of data. Its technologies are designed to support intelligence gathering, public safety and operational decision-making.

The company’s offerings include digital and network intelligence, investigative analytics, video and audio analytics, and related data-management tools.